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The Bogleheads' Guide to Investing. Learning about the financial system really changed my perspective on how to deal with money in the long term. It has had im
by rcconf 12y ago
The Bogleheads' Guide to Investing.
Learning about the financial system really changed my perspective on how to deal with money in the long term. It has had immediate effects on my life.
I learned about taxation in detail, opened an account on a discount brokerage, changed saving patterns, and have made a portfolio for the next 10 years.
I have a spreadsheet of how much I can spend and componentize my bank cards. One is for bills, another for spending, and the rest are investing accounts. When I get a paycheque, I put how much I need for bills directly into the bill account, the allocated amount for investing in investment accounts, and the rest in my spending account. I know exactly how much I can spend at restaurants and I don't need to do any mental math.
I really feel like learning this at age 22 was life changing and I will be thanking my self in the future.
"Invest early and often" - Jack Bogle
- IgorPartola 12y agoI read this book a little while ago, and it prompted me to make several important changes in my life: start saving for retirement, get life and disability insurance, set up college funds for the kids. I keep it close as it's a great reference, in addition to giving a fantastic overview of what is available for you to do with your money. I recommend it to anyone who asks.
- dv35z 12y agoAgreed - came to this thread specifically to mention this book. This book is enormously valuable to me, and I wholeheartedly recommend it to everyone (friends, family, colleagues). In fact, the related forum (http://www.bogleheads.org/ http://www.bogleheads.org/) is one of the most helpful, welcoming, professional, and well-moderated forums I have come across, and is a great "next step" after reading the book, and developing/executing a plan. I know there are several HN frequenters there as well. I also recommend accompanying Bogleheads Guide it with A Random Walk Down Wall Street (http://www.amazon.com/Random-Walk-Down-Wall-Street/dp/0393330338 http://www.amazon.com/Random-Walk-Down-Wall-Street/dp/039333...). It ranks with me as another "life changing" book. Enjoy.
- trendyy 12y agoWould this book be helpful for those who live in the UK? Or is it very US specific?
- axolotl_king 12y agoI would say, no. There's tons of practical advice, but in general it covers principles of sound personal finance, such as how to be savvy with your personal savings.